Cerity Partners LLC Has $6.56 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Cerity Partners LLC trimmed its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 6.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,302 shares of the company's stock after selling 4,432 shares during the quarter. Cerity Partners LLC's holdings in Okta were worth $6,555,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in Okta during the 4th quarter worth about $234,992,000. Ameriprise Financial Inc. raised its holdings in Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. Ninety One UK Ltd bought a new stake in Okta during the 1st quarter worth about $189,915,000. Alyeska Investment Group L.P. grew its position in shares of Okta by 2,309.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock worth $139,693,000 after buying an additional 1,699,176 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after buying an additional 1,572,786 shares during the period. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

OKTA traded up $3.40 during trading hours on Friday, reaching $95.50. The company's stock had a trading volume of 1,318,879 shares, compared to its average volume of 3,125,486. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company's 50-day moving average is $105.60 and its 200-day moving average is $101.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $16.72 billion, a PE ratio of 151.45, a price-to-earnings-growth ratio of 4.41 and a beta of 0.82.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,244 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.00, for a total value of $224,400.00. Following the transaction, the insider owned 23,640 shares in the company, valued at approximately $2,364,000. This trade represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan James Addison sold 6,027 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $92.01, for a total value of $554,544.27. Following the completion of the transaction, the executive owned 19,067 shares in the company, valued at $1,754,354.67. The trade was a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,002 shares of company stock worth $3,522,072 over the last quarter. 5.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of several analyst reports. Canaccord Genuity Group boosted their target price on Okta from $100.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Stifel Nicolaus boosted their target price on Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Mizuho decreased their target price on Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Needham & Company LLC boosted their target price on Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Barclays decreased their target price on Okta from $135.00 to $120.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, Okta presently has a consensus rating of "Hold" and a consensus target price of $119.44.

Okta Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.